>> purchas >> item number 4. interim proposed budget and -- excuse-me. for item number 4 interim item 4 proposed all estimated expenditures for the city and county of san francisco as of may 31st and in june 2013 and fourteen. the annual budget and an proposed project for june 2015 >> please call item number 8 with this. item number 8 the controllers letter of the discretion for 2014 and 2015. >> so in terms of the agenda why don't we ask kate howard to speak on the mayors proposed budget then we'll ask our controller to speak on the budget and then ask harvey rose. i believe we have some questions for mr. rose on a report that supervisor al loss had conducted. first up ms. howard >> good afternoon supervisors kate howard thank for having merry me here today to talk about the mayors proposed budget. the items before you the bulk of them the action items are approving the interim budgets and salary ordinance for the city. essentially those are place holder budget that allows the city to continue to operate while the board is considering the budget for the

feds have been talking about purcha -- about tapering the purchase of bonds. and today we got the beige book, noting gains in auto sales and bank lending and hiring, gains in several districts. so what do traders do when they are confused? they lighten up on their position and look what happens. the dow is down, this is the worst twtwy losing sfretreak since november, and the markets are being held hostage to the dollar/yen trade, the yen has been strengthening the past two weeks and did again today. a lot of people borrowed cheap yen to buy assets elsewhere. but they are starting to unwind the deal. >> well the dow had a triple digit move in 5 of the last 7 trading sessions now they want to know if the volatility is noise that should be ignored. here is what george young has to say. >> we are long-term holders of stock, we think it's important, we think it's very important to make sure our investors understand that opportunities are now, don't get worried about day-to-day volatility. >> another thing that had wall street buzzing, mortgage applications fell mo

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the capital one purcha eraser.an redeem the double miles i earned with my venture card to erase recent travel purchase d with a few clicks, this mission never happened. uh, what's this button do? [ electricitity zaps ] ♪ you requested backup? yes. yes i did. what's in your wallet? ♪ gerri: we aki gerri: we are looking out for your credit score tonight. any moves can haunter history for years to come. join me now with tips to boost your credit score, consumer education present for smart credits.com. lcome back to the show, always good to have you on. i want to start withhe credit scoring, it is a long time. if you have that information, how long is it? >> the crit industry is a self policing industry. when you miss payments w are you have accounts went to default or collections or most cently people going into foreclosure that is a seven ye penalty if youile bankrucy or have a tax en on your credit report or unpaid student loan those can stay longer up to 10 years and unpaid tax liens and defaulted student loan can